The Helsinki region has seen "historic" changes in rental costs, according to the latest market report by Statistics Finland.
The figures show that rents for non-subsidised housing dropped in the capital region by 0.3 percent and in the city of Helsinki by 0.2 percent during the first quarter of 2022, compared to the previous year's figures for the same period.
This means that rental costs in the capital region have decreased for the fourth quarter in a row, according to the statistics agency.
"Rental cost decreases for non-subsidised housing haven't been recorded in the capital region for the past number of years, so in that sense the decrease is historic," according to Martti Korhonen, a senior statistician at the central data bureau.
Turku and Tampere see rental cost increase
He added that the supply of rental housing has surged, which has also led to a decrease in costs. The reasons behind the increased supply include the rise in distance learning, the loss of international students, and Airbnb apartments being offered as long-term rentals due to an overall drop in tourism.
In addition, new apartment buildings are still being built in the Helsinki area, Korhonen added.
Compared to the first quarter of 2021, non-subsidised rental prices increased the most in the cities of Turku and Tampere, which both saw costs rise by more than one percentage point.